Power System Simulator Market: Size, Share, Growth, Trends, and Forecasts 2016–2024
Sarasota, FL -- (SBWIRE) -- 05/09/2018 -- Global Power System Simulator Market: Overview
Power system simulator majorly assists the companies to reduce the loss of energy at the time of electricity distribution and electricity generation, thus optimizing operational effectiveness. Due to continual energy usage along with several restraints in energy generation, utility providers are now gradually inclining towards power system simulator to analyze data.
Global Power System Simulator Market: Growth Factors
The growing investment, particularly in the smart power technologies, is likely to be the primary aspect fuelling the global power system simulator market. Along with this, advancements in technologies such as the Internet of Things and Big Data analytics also contribute to the growth of the power system simulator market. Moreover, power management of the software is gathering the interest of governments all around the world for energy protection, which is another aspect driving the market's expansion.
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Global Power System Simulator Market: Segmentation
The power system simulator market is categorized into modules, offerings, industrial, end-user, and others. In terms of offerings, the global power system simulator market is fragmented into services, software, and hardware. In terms of modules, the global market is divided into device coordination selectivity, short circuit, load flow, arc flash, harmonics, and others. In terms of the end user, the global power system simulator market is segregated into power, industrial, and others. The power division is anticipated to dominate and lead the global power system stimulator market, in terms of end-user. The power division is classified into transmission and distribution and the power generation division. Power system division is likely to find its application in power quality, load planning, grids, transmission & distribution, and arc flashes. Augmented ventures in renewable energy, increasing power generation capacities, as well as high expansion rates in rising economies, are expected to drive the power division. Several countries are majorly focusing on expanding their energy mixes as well as re-evolving microgrids, which is projected to fuel the power division of the global power system stimulator market.
Global Power System Simulator Market: Regional Analysis
North America is likely to be the leading contributor to the global power system simulator market. The region is expected to hold a significant market share in the global power system simulator market. This is primarily owing to huge investments, particularly in the smart grid systems. In addition, ongoing efforts in Canada to improve its electricity infrastructure along with the main objective to reduce energy loss at the time of transmission and production is projected to have a constructive effect on the global power system simulator market in the coming future.
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On the other hand, quick urbanization in up-coming economies of Asia Pacific is projected to contribute to the development of this market. In Asia Pacific region, countries such as India, China, South Korea, Japan, and Australia are projected to lead the domestic regional markets with a huge population and high unmet energy requirements.
Global Power System Simulator Market: Competitive Players
Some of the most important market players in the global power system simulator market are DIgSILENT GmbH, General Electric Company, ABB Ltd., PSI AG, ETAP/Operation Technology Inc., Electricity Coordinating Center Ltd., Unicorn Systems, and Electrocon International Inc., among others.
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The Asia Pacific
The Middle East and Africa
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